Vijay Bhambwani, head of behavioural tech analysis at Equitymaster expects gold to make new highs by end of 2022.

He said, "We have a long term bullish call on gold. If you have time till end of 2022, I think a new high might just be possible in gold."

Bhambwani believes that rally in crude oil prices is engineered by cutting back on output.

"The rally in crude oil is caused not by buyers queuing outside OPEC exporting nation's doors, this rally is engineered by cutting back on output. The reason is fairly simple, Aramco is coming out with another issue and oil will be pumped up again just like it was in 2019 before their previous issue and therefore opinion is being created about triple digit oil price in dollar terms," he said.

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(Edited by : Bivekananda Biswas)